Glossary

Bag Mark These are the marks newly minted coins acquire when they are dumped into mint bags and shipped to their destination point. These coins are still un-circulated because they have not yet been in general circulation. The number of bag marks on an un-circulated coin, and their location on the coin, in part determine the mint state grade of the coin. (Luster and strike are other determining factors of an un-circulated coin. Black & White Cameo A cameo which was one of the very earliest strikes off a die. The intensely frosted devices and deeply mirrored fields of a new proof die initially strikes coins with a black and white effect, with the devices being frosted white and the surrounding deeply reflective, mirrored fields possessing a black mirror appearance. Brilliant Proof  A proof with no discernible contrast between the devices and fields. Brilliant proofs during the 1950-1970 era were usually later strikes off proof dies whose cameo effect had worn Brilliant Uncirculated Often referred to as BU. A descriptive term for uncirculated coins with bright, original mint luster. Cameo A coin whose devices have a frosted, white appearance that is contrasted by the surrounding brilliant fields. Ultra-heavy Cameo  A proof of special mint set coin with the heaviest possible frosted devices. Such coins represent the very earliest strikes off fresh dies. Moderate Cameo A later strike than a heavy cameo, with considerable frost-fade on the devices. Certified Coin A coin graded by a third-party grading service. Coins certified by a third-party grading service are typically encapsulated and sealed in an inert, air tight plastic holder. The most popular grading services today are Numismatic Guaranty Corporation of America, Professional Coin Grading Service and ANACS. Devices The raised portions of a coin. On the Franklin half dollar, the devices would be the bust of Franklin, lettering, and date on the obverse, and the Liberty Bell, eagle, and lettering on the reverse. Die Crack / Die Break Cracks in the working die resulting in the one or more raised, usually irregular lines on the coin. Shield nickels are noted for die breaks. Extreme breaks which allow raised metal to form on the coin's surface are called Cuds -- an error coin. Die Polishing Typically found on cameo proofs struck from 1951-1955. The result of polishing performed on the die at the mint, die polishing lines on a coin appear as raised lines on the devices of a coin unlike hairlines which are recessed. Die polishing does not necessarily detract from the grade of a coin, since it is an aspect of the die that struck the coin. Dipping  A slang term for immersing a coin into an invasive chemical solution (usually acidic, but may be alkaline based) which affects coins original surfaces. Usually done to brighten, whiten and permit environmental or artificial toning.  Doubled Die When a working die is not accurately in register between successive impressions from a working hub, a slight doubling or shifting of the image is imparted to the die. This will then appear on coins struck from that die. Fields The recessed, flat portions of the coin surrounding the devices. The fields on a proof coin typically have a mirrored appearance, while they are typically satiny on an uncirculated commercial coin. Gem A term used to describe a high quality commercial or proof strike coin. A commercial coin is described as gem if it is at least mint state-65 on the Sheldon scale. A proof coin is considered gem if it is at least proof-65  Grade The relative quality of a coin. The system used today was originally proposed by Dr. William Sheldon. A numerical system spanning from 1-70 is used, the higher the number the higher the relative quality of the coin. Numbers 1-59 are used to express the various degrees of wear of circulated coinage. Number 60-70 are used for uncirculated commercial coins and proof coins. The higher the number, the fewer the surface imperfections.  Hairlines Very fine, light hair-like scratches typically found in the mirrored fields of proof of special mint set coins. Good lighting and magnification are often required to detect these imperfections.  Hub A solid, steel cylinder which bears on one end a positive or relief image of a coin design. A master hub is used to sink master dies, while working hubs are used to sink working dies.  Luster The sheen or bloom on the surface of an uncirculated numismatic object resulting from the flow of metal caused when struck by the dies.  Master Die The die made from the master hub in which the year is engraved and used to produce the working hub. The working hubs are then used to produce the working dies utilized by the mint process.  Mint Set Known by the United States Mint (which produces it) as an Uncirculated Set, this typically consists of one or two of each of the coins struck for circulation from each mint (sometimes non-circulating coins of ordinary manufacture are also included). Such sets have been offered fro sale to collectors for the dates 1947-49, 1951-64, 1968-81 and 1984 to date.  Mint State (MS) Coin An uncirculated coin originally intended for commmercial use. On the Sheldon scale, mint state coins range from a low grade of 60 (very heavily abraded, lowest possible uncirculated quality) to a high of 70 (perfect, theoretically impossible for a mint state coin). NGC The Numismatic Guaranty Corporation of America is a commercial service which authenticates, grades and encapsulates coins. Original Roll Coins are delivered to the Federal Reserve Banks (the Treasury and Sub-Treasuries prior to 1914) from the mints in bags or boxes, never in rolls. Thus, uncirculated rolls are wrapped by banks from freshly minted and delivered coins. "original" rolls consist of coins which have been kept together since they were first issued and have not had the higher-quality pieces replaced with lesser ones by collectors.  PCGS The Professional Coin Grading Service is a commercial service which authenticates, grades and encapsulates coins. PCI The Professional Coin Grading Service is a commercial service which authenticates, grades and encapsulates coins. PF or PR Abbreviation for a proof coin. PF is used for all NGC proof coins; PR is used for all PCGS proof coins. PL Abbreviation for proof-like. A coin which is not a proof, but a commercial business strike, yet exhibits the highly polished, mirrored fields similar to a proof coin. Such coins are typically very early strikes off new dies. Planchet A blank coin before it is struck in the die. Proof Coin A coin minted specifically for collectors and intended to be the highest expression of the coin minter's art. Proofs are made from highly polished dies and planchets and are individually handled once struck so as not to get abraded. Raw Coin An uncertified coin that has not been graded by a third-party grading service such as PCGS, PCI or NGC Red Book The nickname given to R. S. Yeoman's A Guide Book of United States Coins, currently edited by Kenneth Bressett. Since 1946 this book has been published annually as a guide to retail values. RPM Repunched mintmark, a variety in which the mintmark has been punched two or more times in the die, not in perfect register. An example would be D over D, abbreviated as D/D.  Snow White A term used to describe very early strike cameos with intensely frosted devices. These very early strikes actually possess devices that exhibit a snow white look. This term is often used interchangeably with black and white cameo. Striations Similar to hairlines in nature, except that striations occur during the minting process, while hairlines are the result of mishandling after the coin is minted. Uncirculated Coin Uncirculated A coin struck for commercial use which has never been in general circulation. Strike The quality of the coins device detail transferred from the die. Poor strikes can be caused by light striking pressures, worn dies or improper distant adjustments between the obverse and reverse dies. Working Die The steel cylinder with coin design in one end used to stamp a design into a blank planchet so the devices and inscriptions will be in relief and readable. The die design is incuse on the Shield and Liberty Head nickels.

Last Updated ( Friday, 20 February 2009 )